Thinks 246

Mohandas Pai and Yash Baid: “India…is now the third-largest start-up ecosystem on the planet. The depth of this ecosystem is significant, with 55,000 start-ups having already created $350 billion of value and employing over 1.5 million people. Indian start-ups raised over $70 billion over 2014-2020—$11.5 billion in 2020 and $10.5 billion in the first half of 2021 alone, a period marked by the Covid-19 pandemic. The year 2020 first set the pace, seeing the most number of new unicorns in a year, with 11 start-ups reaching the milestone—only to be topped by 2021 (ytd), where we were witness to 6 unicorns crowned in one week, and 18 being created in just the first half, with an expectation of 25 unicorns by year-end. Of the $110 billion in capital raised by Indian start-ups since 2008, $70 billion was raised in the just last five years— a remarkable acceleration of capital deployment that has gone largely unnoticed by most of the mainstream Indian industry. It has led to the creation of 59 venture-funded tech companies, valued at over a billion dollars each in just a decade.”

Milton and Rose Friedman: “Wherever the free market has been permitted to operate, wherever anything approaching equality of opportunity has existed, the ordinary man has been able to attain levels of living never dreamed of before. Nowhere is the gap between rich and poor wider, nowhere are the rich richer and the poor poorer, than in those societies that do not permit the free market to operate.” [via CafeHayek]

Atanu Dey: “The economy is a complex set of interlocking activities undertaken by an arbitrarily large collection of individuals and collectives attempting to achieve their self-selected ends as best as they can given the limited means at their disposal and their imperfect understanding of how to realize those ends. There are limits to what can be done by any entity. The laws of nature (no perpetual motion machines, for example) impose strict limits on what’s possible. Then there are further limits that arise from the lack of knowledge.”

Published by

Rajesh Jain

An Entrepreneur based in Mumbai, India.